Foster & Motley Inc. Has $1.15 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Foster & Motley Inc. grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,688 shares of the oil and natural gas company’s stock after buying an additional 415 shares during the quarter. Foster & Motley Inc.’s holdings in Diamondback Energy were worth $1,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in FANG. First Community Trust NA bought a new position in shares of Diamondback Energy in the 2nd quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC raised its stake in shares of Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the 2nd quarter valued at approximately $40,000. Values First Advisors Inc. bought a new position in shares of Diamondback Energy in the 3rd quarter valued at approximately $42,000. Finally, Founders Capital Management raised its stake in shares of Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 125 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FANG shares. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Sanford C. Bernstein dropped their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. KeyCorp dropped their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research report on Tuesday, October 29th. Finally, BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $209.64.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $183.62 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The firm has a market cap of $54.12 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.26 and a beta of 1.89. The business’s fifty day moving average is $182.34 and its two-hundred day moving average is $192.55. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 17.64% and a net margin of 33.64%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.49 EPS. Equities research analysts forecast that Diamondback Energy, Inc. will post 17.1 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.